Gold Movement
Gold prices traded higher by 0.14% against the USD in the 24 hour period ending 23:00GMT, at 1340.55 per ounce, as demand for safe-haven assets rose after media reports showed that Russian troops opened fire at Ukrainian military post in Crimea.
In the Asian session, at GMT0400, Gold is trading at 1341.23, marginally higher from yesterday’s close.
Gold is expected to find support at 1331.53, and a fall through could take it to the next support level of 1321.84. Gold is expected to find its first resistance at 1347.88, and a rise through could take it to the next resistance level of 1354.54.
The yellow metal is showing convergence with its 20 Hr and 50 Hr moving averages.
